Significant Revenue Growth
Total revenue for Q1 2025 was approximately $8 million, a 14.6% increase over the prior year quarter. Managed services revenue grew by 18.1% over the prior year quarter.
Cost Reductions and Improved Financial Metrics
Expenses other than the cost of revenue declined by 40% from $7 million to $4.2 million year-over-year. Sales and marketing costs decreased by 63.3%, and general and administrative costs reduced by 22.3%.
Near Break-even and Positive Cash Flow
Net loss in Q1 2025 was $142,800, a significant improvement from the $3.3 million loss in Q1 2024. Adjusted EBITDA improved from negative $3.4 million to negative $76,850, and the company generated positive cash flow from operations.
Strategic Refocus and Operational Achievements
The company exited international markets to focus on the U.S., redesigned its organizational structure, and won business from prominent clients like Nestle and Jeep.
Strong Cash Position and No Debt
As of March 31, 2025, the company had $52.2 million in cash and investments, an increase of $1.1 million, with no debt on the balance sheet.